Palmer Square Capital Management Closes Second Collateralized Loan Obligation Fund in 2013

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Sep 24, 2013, 09:00 ET

LEAWOOD, Kan, Sept. 24, 2013 /PRNewswire/ -- Palmer Square Capital Management, an investment management firm that provides portfolios of structured credit, corporate credit and hedge fund strategies such as long/short credit to a wide range of investors, today announced that it has closed on its second Collateralized Loan Obligation ("CLO") in the last six months.

Palmer Square CLO 2013-2, Ltd., which closed September 17, 2013, is a $464 million issuance. On April 15, 2013, Palmer Square closed CLO 2013-1, Ltd. at $362 million. Both transactions were arranged by JPMorgan Chase & Co. Both vehicles are designed to invest primarily in institutional senior secured bank loans.

According to Christopher D. Long, president of Palmer Square Capital Management, "We always believed that the CLO space was a natural extension of our investment platform given our team's experience and competitive advantage in structure and credit. Leveraging these two successful offerings, we will continue to enhance our CLO platform and execute on investment opportunities across corporate and structured credit, long/short credit and other alternative strategies."

Angie K. Long, chief investment officer of Palmer Square, commented, "CLOs are a very efficient way for investors to access senior secured bank loans. Given the unique combination of significant floating rate yields and low credit risk, CLOs are attractive and we believe we are well-positioned as more investors continue to enter the space."

Erin E. Carney, portfolio manager added, "Managing CLOs is an ideal situation for Palmer Square and our credit team given our history in the high yield credit markets and our deep industry expertise. We look forward to continuing to expand this effort."

Palmer Square is a boutique credit and alternative investments manager with approximately $2.8 billion in assets under management. The firm is majority-owned by Montage Investments, which is the asset management arm of Leawood, Kansas-based Mariner Holdings, a $24 billion financial services firm.

The securities issued under the CLO transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Palmer Square Capital Management
Palmer Square Capital Management provides investment advisory services and manages portfolios of structured corporate credit, corporate credit and various hedge fund strategies for a diverse set of clients across institutional, family office, registered investment advisory firms and broker-dealers.

Visit www.palmersquarecap.com.

About Mariner Holdings
Mariner Holdings is a rapidly growing and award-winning independent financial services firm focusing on wealth and asset management through its two subsidiaries: Mariner Wealth Advisors and Montage Investments.

Visit www.mariner-holdings.com.

About Montage Investments
Montage Investments offers a distinct collection of institutional investment managers delivering complex strategies across global asset classes, based on decades of experience. Collectively, Montage affiliates manage more than $18 billion, including more than $2 billion across seven mutual funds. The Montage approach empowers independent investment managers with an array of sophisticated capabilities to help better serve their clients.

Visit www.montageinvestments.com.

SOURCE Palmer Square Capital Management